Lonsdale's Mobility Group bolts on Cassellie

The deal comes 18 months after Lonsdale backed the management buy-in of Mobility – comprising the Mobility Plus and Premier Care in Bathing brands.

According to a statement, the consolidated group will have a turnover of £60m. Mobility Group intends to expand beyond the specialist market, to provide bathrooms and develop products aimed at both the mobility and able-bodied segments.

The GP is currently investing from its 2015-vintage £110m debut vehicle.

Debt
Yorkshire Bank provided debt financing to support the transaction.

Company
Founded in 2009 and headquartered in Leeds, Cassellie designs and imports bathroom products, including taps, radiators, furniture and showers. It generated a turnover of £26.4m in 2016, according to publicly available documents, with an operating profit of £3m. At the end of 2016 it had a headcount of 77.

People
Lonsdale Capital Partners – Ben Evans (partner).
Mobility Group – Lawrence Warriner (CEO).

Advisers
Equity – KPMG (financial due diligence, debt advisory); CIL (commercial due diligence); CMS Cameron McKenna (legal); JLT (insurance due diligence); Alvarez & Marsal (other due diligence).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• Lonsdale Capital Partners
• Build-up
• KPMG
• CMS Cameron McKenna
• Alvarez & Marsal